Laurus Labs Ltd. benchmarking: Performance to industry peers

Financial

	Laurus Labs	Acutaas Chemicals	Neuland Laboratories
Operational Metrics
Pharmaceuticals
Fermentation Capacity	240.0 KL	n/a	n/a
Number of ANDA's Filed in Europe	22.0	n/a	n/a
Number of ANDA's Approved in Europe	19.0	n/a	n/a
Number of ANDA's Filed in Canada	23.0	n/a	n/a
Number of ANDA's Approved by Canada	16.0	n/a	n/a
Number of ANDA's Filed in USA	49.0 .	n/a	n/a
Number of ANDA's Approved By USFDA	37.0 .	n/a	n/a
US DMF Filings	92.0 .	n/a	75.0 .
R&D as a % of Total Sales	4.0 %	n/a	4.15 %
Financials
5 yr Average ROE	14.55 %	15.72 %	14.95 %
5yr average Equity Multiplier	2.02	1.57	1.56
5yr Average Asset Turnover Ratio	0.67	0.74	0.74
5yr Avg Net Profit Margin	10.48 %	12.98 %	13.18 %
Price to Book	14.4	16.06	11.87
P/E	85.87	72.53	61.3
5yr Avg Cash Conversion Cycle	70.98 Days	55.02 Days	38.21 Days
Inventory Days	118.83 Days	64.12 Days	87.5 Days
Days Receivable	111.49 Days	90.06 Days	85.17 Days
Days Payable	145.11 Days	127.33 Days	118.14 Days
5yr Average Interest Coverage Ratio	6.55	25.42	20.78
5yr Avg ROCE	18.35 %	20.01 %	17.63 %
5yr Avg Operating Profit Margin	23.14 %	20.92 %	21.01 %
5 yr average Debt to Equity	0.53	0.23	0.15
5yr CAGR Net Profit	1.44 %	24.06 %	26.4 %
5yr Average Return on Assets	7.26 %	9.8 %	9.87 %
Shareholdings
Promoter Holding	27.49 %	32.66 %	32.63 %
Share Pledged by Promoters	2.69 %	0.0	2.29 %
Change in Promoter Holding (3 Yrs)	0.29 %	-6.75 %	-3.51 %
Change in Mutual Fund Holding (3 Yrs)	5.82 %	9.37 %	10.36 %

	Laurus Labs	Acutaas Chemicals	Neuland Laboratories
Product Wise Break-Up	Product Wise Break-Up Active Pharmaceutical Ingredient (API) 42.0 Synthesis 29.0 Formulations 25.0 Bio 4.0 Ingredients 0 Specialty Chemicals 0 Pharma Intermediates 0 Generic Drug Substances(GDS) 0 Custom Manufacturing Solutions(CMS) 0	Product Wise Break-Up Custom Manufacturing Solutions(CMS) 0 Ingredients 0 Active Pharmaceutical Ingredient (API) 0 Generic Drug Substances(GDS) 0 Specialty Chemicals 10.71 Pharma Intermediates 89.29 Formulations 0 Synthesis 0 Bio 0	Product Wise Break-Up Custom Manufacturing Solutions(CMS) 18.0 Ingredients 0 Active Pharmaceutical Ingredient (API) 0 Formulations 76.0 Specialty Chemicals 0 Pharma Intermediates 0 Formulations 0 Synthesis 0 Bio 0 Others 6.0
Location Wise Break-Up	Location Wise Break-Up Rest of the World 55.0 Europe 25.0 North America 20.0 India 0 Germany 0 Spain 0 Israel 0 France 0 China 0 Finland 0 Italy 0 USA 0	Location Wise Break-Up USA 0 North America 0 Germany 3.4 India 44.0 Spain 2.5 Israel 1.9 Europe 0 France 0 Finland 18.6 China 3.9 Italy 14.2 Rest of the World 0 Others 11.5	Location Wise Break-Up USA 29.35 North America 0 Germany 0 India 30.39 Spain 0 Israel 0 Europe 29.86 France 0 Finland 0 China 0 Italy 0 Rest of the World 10.4